Question – Disclosure in Life Insurance form

POSTED BY Sandeep Sandeep ON August 17, 2013 9:43 pm ONE COMMENT

I have taken out HDFC click2protect Life Insurance of Rs.1.5 Cr cover

I already had LIC Jeevan Saral

 

Cover

250 Times the Monthly Premium + Return of Premiums (excluding Extra/Rider Prem. & First Year Prem.) + The Loyalty Additions (if any)

Intial cover – Rs. 42.50 lakhs (excluding rider)

 

Rider

Accidental cover – Rs. 42.50 lakhs (rider)

Therefore initial cover comes to Rs.42.50 lakhs (with an additional  rider of Accidental cover of 42.50 lakhs). The initial Insurance increases every year as I pay yearly premium + expected loyalty.

In the Insurance form I had mentioned Rs.42.50 lakhs as cover. Is this correct ? Do I need to include riders ? or anything else ?

Please advice?

 

 

 

One reply on this article “Question – Disclosure in Life Insurance form”

  1. Dear Sandeep, your cover is limited to just 42.5L Rs. the yly addition is the return on the investment part of your prem. & not the sum assured. Rider sum assured is not the part of basic cover & hence it should not be reported either.

    thanks

    Ashal

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today